Early Warning partners with Payfone for money transfer security
Early Warning has partnered with Payfone to provide mobile identity authentication solutions for its digital payments network Zelle.
Payfone, a provider of mobile identity authentication for digital channels, will provide risk assessment solutions to help Zelle in streamlining consumer enrollment and transaction authentication processes.
Early Warning Risk Solutions business group president Eric Woodward said: “Payfone’s solutions will significantly simplify the enrollment processes for millions of Zelle P2P users, while adding another layer of non-intrusive protection behind-the-scenes for Zelle.
“Payfone brings together data from across the mobile ecosystem – networks, devices, users – to help us assess enrollment and transaction risk almost instantly. This helps us balance the requirements for speed and security in the faster payments space.”
Payfone CEO Rodger Desai said: “Faster payments require instant mobile authentication, which Payfone is uniquely positioned to provide. Collaborating with Early Warning to help add further seamless security to Zelle is a shining example of how Payfone makes customer transactions safer and smoother.”
Payfone processes more than 10,000,000 transactions a day for financial, healthcare and governmental organizations. The processing is expected to reach 50,000,000 transactions per day by the end of 2017.